Bihar Affairs
Supplementary budget passed in legislative council
The five-day monsoon session ofBihar legislative councilended amid disruption of proceedings by opposition members and resultant adjournments of theHouse. A supplementary budget for 2023-24 and related appropriate bill were passed on the last day of the session.
Legislator Ram Bachan Roy praised the initiative behind the supplementary budget and the which will be spent on different sectors.
Giving the break, Roy said maximum Rs 6,223 crore will be spent onSamagra Shikshathrough which salary of teachers will be given, followed by Rs 4000 crore on the schemes of seven resolves-2, Rs 2,000 crore on construction of bridges and land acquisition, Rs 607 crore on construction of panchayat bhawan, Rs 554 crore on construction of government schools, Rs 223 crore on the Patna metro rail project and Rs 150 crore on pension to be given to elderly people.
National and International Affairs
Withdrawal of Rs 2,000 notes pushes deposit to six-year high of Rs 191.6 lakh cr in June: Report
Withdrawal of Rs 2,000 notes by Reserve Bank on May 19 and the subsequent near total return of the currency to the system has buoyed deposit accretion to a six-year high of Rs 191.6 lakh crore in June, according to a report.
Earlier this month, the RBI said more than three-fourths of the total 3.62 lakh crore of Rs 2,000 bank notes have come back to the system by way of deposits (over 85 per cent) and the rest as note exchanges.
Deposits rose 13 per cent in the reporting fortnight and sequentially, it expanded by 3.2 per cent to Rs 191.6 lakh crore and in absolute terms, deposits rose by Rs 22 lakh crore in the trailing 12-month period when it had stood at Rs 185.7 lakh crore.
Centre aims to digitise all land records by March 31 next year
The Centre is aiming for digitising land records across all districts by March 31 next year and the ministry of rural development is also working on linking the digitised records with e-courts and banks to check fraudulent land transactions and prevent disputes.
According to the ministry under the Digital India Land Records Modernization Programme (DILRMP), 94% digitisation targets have already been achieved across the country. Showing the way to others to meet the targets are 68 districts across nine states Odisha, Madhya Pradesh, Jharkhand, Tripura, Gujarat, Bihar, West Bengal, Chhattisgarh and Assam. On Tuesday they received the Bhoomi Samman from PresidentDroupadi Murmufor meeting 99% and above of the targets on all components of digitisation.
The government, under DILRMP, carries out monthly grading on six components computerisation of land records; digitisation of cadastral maps; linkage of land records with cadastral maps; computerisation of registration; integration of registration (sub registrar office) with land records (revenue office); and creation of a modern record room. The districts are graded as platinum (99% and above), gold (95% and above till 99%) and silver (90% and above till 95%).
India, Argentina look to boost defence industrial partnership
India and Argentina discussed the ongoing DEFENCE cooperation initiatives, including measures to enhance defence industrial PARTNERSHIP, the Ministry of Defence said after a bilateral meeting between Defence Minister Rajnath Singh and his Argentine counterpart Jorge Enrique Taiana.
Argentina has shown interest in sourcing Tejas, a Light combat aircraft, from India. The Argentine Minister will visit the public sector giant, Hindustan Aeronautics Limited, the makers of the plane. Hal has already done its sales pitch with the South American country.
India and Argentina are working closely together to make defence engagements an important facet of their strategic partnership.
ADB retains India’s growth forecast at 6.4 per cent for current fiscal
The Asian (ADB) on Wednesday retained Indias economic Growth forecast at 6.4 per cent for the current financial year and 6.7 per cent for the next, saying robust domestic demand will continue to support the region’s recovery.
In an update to its Asian Development Outlook, the ADB said Inflation is expected to continue to fall, approaching pre-pandemic levels as fuel and food prices decline. It forecast 3.6 per cent inflation this year for developing economies in Asia, and 3.4 per cent in 2024.
In April, the ADB had projected that India’s economic growth is expected to moderate to 6.4 per cent in the current financial year due to tight monetary conditions and elevated oil prices.
Study finds new method to reverse effects of fentanyl
Researchers have discovered a new way to reverse the effects offentanyl, which is 50 to 100 times stronger than morphine.
Their research, which was published in the Journal of Medicinal Chemistry, could lead to a new method of reversing overdoses, either through a new product or by working in tandem with naloxone.
According to the Centres for Disease Control, 100,000 Americans die each year from overdoses, the majority of which are caused by the use of synthetic opiates such as fentanyl. While naloxone, the only antidote for opiateoverdose, is becoming more widely available, it is less effective against fentanyl-class synthetic opioids.